Dosboy's Bits and Bytes

It's not an exact replica but it still looks damn good. And it's coming out this month! For only $100. Small price to pay for a Soundwave MP3 player if you ask me. Oh, and did I mention that the cassette deck opens and that's where you put a miniSD card? Sweet.

[TFsource]

I also came across Frenzy and Rumble Earphones for it, but they look pretty lame compared to Soundwave, and they don't even transform into cassettes.

[TFsource]

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UPDATE: I just updated the links as they were pointing the pre-order versions and seemed to have broken.